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Jump to: navigation, search This article is about the energy corporation. For other uses, seeBP (disambiguation). For information on the oil spill from the Deepwater Horizon rig, see Deepwater Horizon oil spill.
Public limited company Type (LSE: BP, NYSE: BP)
Oil and natural gas, alternative fuels
1909 (as the Anglo-Persian Oil Company) 1954 (as the British Petroleum Founded Company) 1998 (merger of British Petroleum and Amoco)
London, United Kingdom
Carl-Henric Svanberg (Chairman) Key people Bob Dudley (CEO) Byron Grote (CFO) 
BP petroleum and derived products BP service stations Air BP Aviation Fuels Products Castrol motor oil ARCO gas stations am/pm convenience stores Aral service stations solar panels US $246.1 billion (2009) 
US $26.43 billion (2009) 
US $16.58 billion (2009) 
US $236.0 billion (2009)
US $101.6 billion (2009) 80,300 (Dec 2009) 
A 1922 BP advertisement. BP p.l.c. (LSE: BP, NYSE: BP) is a global oil and gas company headquartered in London, United Kingdom. It is the third largest energy company and the fourth largest company in the world measured by revenue and is one of the six oil and gas s "supermajors". It has operations in over 80 countries, produces around 3.8 millionbarrels of oil equivalent per day and has 22,400 service stations worldwide. Its largest division is BP America,
whi h i the bi est producer of oil and gas in the United States and is headquartered in Houston, Texas. The name "B " deri es from the initials of one of the company's former legal names, British Petroleum. BP has been involved in a number of environmental, safety and political controversies during its history, including the 1965 Sea Gem incident and the 2010 Deepwater Horizon oil spill. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.
1 History o 1.1 Activity in 1909±1979 o 1.2 1980s and 1990s o 1.3 21st century 2 Corporate Structure o 2.1 Governance o 2.2 Financial data 3 Environmental record o 3.1 Climate change o 3.2 1993±1995: Hazardous substance dumping o 3.3 2006±2007: Prudhoe Ba y o 3.4 2010: Texas City chemical leak o 3.5 2010: Deepwater Horizon oil spill o 3.6 Stock decline and takeover speculations o 3.7 Mist mountain project o 3.8 Canadian oil sands 4 Safety record o 4.1 1965: Sea Gem offshore oil rig disaster o 4.2 2005: Texas City Refinery explosion o 4.3 2006±2010: Refinery fatalities and safety violations o 4.4 2009: North Sea helicopter accident o 4.5 2010: Deepwater Horizon well explosion 5 Political record o 5.1 2007: Propane price manipulation o 5.2 2008: Oil price manipulation o 5.3 Baku-Tbilisi-Ceyhan pipeline o 5.4 Colombian pipeline o 5.5 Contributions to political campaigns o 5.6 BP and Russia 6 BP corporate and retail brands o 6.1 Corporate branding o 6.2 BP o 6.3 ampm o 6.4 Aral o 6.5 ARCO
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6.6 BP Travel Center 6.7 BP Connect 6.8 BP Express 6.9 BP Shop 6.10 BP 2go 6.11 Castrol 6.12 Air BP and BP Shipping 7 See also 8 References 9 Further reading 10 External links
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Furt r i f rmati : Angl -Iranian Oil Company
 Acti ity in 1909±1979
In May 1901, William Knox D'Arcy was granted a concession by the Shah of Iran to search for oil, which he discovered in May 1908. This was the first commercially significant find in the Middle East. On 14 April 1909, the Anglo-Persian Oil Company (APOC was incorporated as a subsidiary of Burmah Oil Company to exploit this. In 1935, it became the Anglo-Iranian Oil Company (AIOC . After World War II, AIOC and the Iranian government initially resisted nationalist pressure to revise AIOC's concession terms still further in Iran's favour. But in March 1951, the prowestern Prime Minister Ali Razmara was assassinated. The Majlis of Iran (parliament elected a nationalist, Mohammed Mossadeq, as prime minister. In April, the Majlis nationalised the oil industry by unanimous vote.  The National Iranian Oil Company was formed as a result, displacing the AIOC. The AIOC withdrew its management from Iran, and organised an effective boycott of Iranian oil. The British government ± which owned the AIOC ± contested the nationalisation at the International Court of Justice at The Hague, but its complaint was dismissed. By spring of 1953, incoming U.S. President Dwight D. Eisenhower authorised the Central Intelligence Agency (CIA) to organise a coup against the Mossadeq government with support from the British government.  On 19 August 1953, Mossadeq was forced from office by the CIA conspiracy, involving the Shah and the Iranian military, and known by its codename, Operation Ajax.
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Classic shield logo, designed by Raymond Loewy, used from 1979 to 2000 and still in use in a small number of petrol stations. Mossadeq was replaced by pro-Western general Fa lollah Zahedi and the Shah, who returned to Iran after having left the country briefly to await the outcome of the coup. The Shah abolished the democratic Constitution and assumed autocratic powers. After the coup, Mossadeq's National Iranian Oil Company became an international  consortium, and AIOC resumed operations in Iran as a member of it. The consortium agreed to share profits on a 50±50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors." AIOC, as a part of the AngloAmerican coup d'état deal, was not allowed to monopolise Iranian oil as before. It was limited to a 40% share in a new international consortium. For the rest, 40% went to the five major American companies and 20% went to Royal Dutch Shell and Compagnie Française des Pétroles, now Total S.A.. The AIOC became the British Petroleum Company in 1954. In 1959 the company expanded beyond the Middle East to Alaska and in 1965 it was the first company to strike oil in the North Sea. In 1978 the company acquired a controlling interest in Standard Oil of Ohio or Sohio, a breakoff of the former Standard Oil that had been broken up after anti trust litigation. It continued to operate in Iran until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini confiscated all of the company¶s assets in Iran without compensation, bringing to an end its 70-year presence in Iran.
 1980s and 1990s
Sir Peter Walters was the company chairman from 1981 to 1990. This was the era of the Thatcher government's privatisation strategy. The British government sold its entire holding in the company in several tranches between 1979 and 1987. The sale process was marked by an attempt by the Kuwait Investment Authority, the investment arm of the Kuwait government, to acquire control of the company. This was ultimately blocked by the strong opposition of the British government. In 1987, British Petroleum negotiated the acquisition of Britoil and the remaining publicly traded shares of Standard Oil of Ohio.
A British BP Shop Petrol Station. Walters was replaced by Robert Horton in 1989. Horton carried out a major corporate downsi ing exercise removing various tiers of management at the Head Office. Standard Oil of California and Gulf Oil merged in 1984, the largest merger in history at that time. Under the antitrust regulation, SoCal divested many of Gulf's operating subsidiaries, and sold some Gulf stations and a refinery in the eastern United States. British Petroleum bought many of the stations in the Southeastern United States. John Browne, who had been on the board as managing director since 1991, was appointed group chief executive in 1995. Browne was responsible for three major acquisitions; Amoco, ARCO and Burmah-Castrol (see below).
 21st century
British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BP Amoco plc. In 2000, BP Amoco acquired Arco (Atlantic Richfield Co.) and Burmah Castrol plc. As part of the merger's brand awareness, helped the Tate Modern British Art launch RePresenting Britain 1500 2000 In 2001 the company formally renamed itself as BP plc and adopted the tagline "Beyond Petroleum," which remains in use today. It states that BP was never meant to be an abbreviation of its tagline. Most Amoco stations in the United States were converted to BP's brand and corporat identity. In many e states, however, BP continued to sell Amoco branded petrol even in service stations with the BP identity as Amoco was rated the best petroleum brand by consumers for 16 consecutive years and also enjoyed one of the three highest brand l yalty reputations for petrol in the US, o comparable only to Chevron and Shell. In May 2008, when the Amoco name was mostly phased out in favour of "BP Gasoline with Invigorate", promoting BP's new additive, the highest grade of BP petrol available in the United States was still called Amoco Ultimate.
Chief scientist, Steven Koonin (top right, with laptop), speaks about the energy scene in the boardroom in 2005.
In April 2004, BP decided to move most of its petrochemical businesses into a separate entity called Innovene within the BP Group. BP sought to sell the new company possi ly via an b initial public offering (IPO) in the US, and filed IPO plans for Innovene with the New York Stock Exchange on 12 September 2005. On 7 October 2005, however, BP announced that it had agreed to sell Innovene to INEOS, a privately held UK chemical company for $9 billion, thereby scrapping its plans for the IPO. In 2005, BP announced that it would be leaving the Colorado market. Many locations were re-branded as Conoco.
Westlake Park in the Energy Corridor area of Houston has BP America's headquarters In 2006, when Chevron Corporation gave exclusive rights to theTexaco brand name in the U.S. Texaco sold most of the BP gas stations in the southeast. BP has recently looked to grow its oil exploration activities in frontier areas such as the former Soviet Union for its future reserves. In Russia, BP owns 50% of TNK-BP with the other half owned by three Russian billionaires. TNK-BP accounts for a fifth of BP's global reserves, a quarter of BP's production, and nearly a tenth of its global profits. In 2007, BP sold its corporate-owned convenience stores, typically known as "BP Connect", to local franchisees and jobbers. On 12 January 2007, it was announced that Lord Browne would retire as chief executive at the end of July 2007. The new Chief Executive, Tony Hayward, had been head of exploration and production. It had been expected that Lord B rowne would retire in February 2008 when he reached the age of 60, the standard retirement age at BP. Browne resigned abruptly from BP on 1 May 2007, following the lifting of a legal injunction preventing Associated Newspapers from publishing details about his private life. Hayward succeeded Browne with immediate effect. On 1 April 2010, Chevron purchased some BP gas stations in Mississippi and changed them to the Texaco brand. On July 27, 2010, BP confirmed that Bob Dudley would replace Tony Hayward as the company's CEO.